Surprised? You should not be. The signs have been mounting for weeks and even months as global conditions smother all possibilities of a market for their product. BTW I have also lost on paper a significant amount and in hindsight feel a bit foolish... for not leaving enough dry powder for a sell-off like this. I would be a buyer today as the bottom always feels like the best time to sell.
At $80M cap, they have an operating mine and no debt (and no sales). Look for further dilution to hold over until market returns... as it always does.
GLTA